Navios Maritime Partners (NYSE:NMM) Cut to Hold at StockNews.com

Navios Maritime Partners (NYSE:NMM) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Navios Maritime Partners Stock Performance

NMM stock traded up $0.25 during midday trading on Monday, hitting $42.42. 140,744 shares of the stock traded hands, compared to its average volume of 139,354. Navios Maritime Partners has a 1-year low of $27.52 and a 1-year high of $65.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day simple moving average is $44.53 and its 200-day simple moving average is $50.39. The firm has a market cap of $1.27 billion, a P/E ratio of 3.22 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share for the quarter, missing the consensus estimate of $3.80 by ($0.65). The business had revenue of $340.84 million during the quarter, compared to analysts’ expectations of $326.32 million. Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. Navios Maritime Partners’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 EPS. On average, analysts expect that Navios Maritime Partners will post 11.6 earnings per share for the current year.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently made changes to their positions in the stock. Main Street Financial Solutions LLC raised its position in shares of Navios Maritime Partners by 1.6% during the 3rd quarter. Main Street Financial Solutions LLC now owns 762,929 shares of the shipping company’s stock valued at $47,782,000 after buying an additional 12,094 shares during the period. Moors & Cabot Inc. raised its position in Navios Maritime Partners by 4.0% in the third quarter. Moors & Cabot Inc. now owns 74,130 shares of the shipping company’s stock valued at $4,643,000 after purchasing an additional 2,850 shares during the period. ING Groep NV grew its holdings in shares of Navios Maritime Partners by 446.2% during the 4th quarter. ING Groep NV now owns 71,000 shares of the shipping company’s stock worth $3,074,000 after purchasing an additional 58,000 shares during the period. Integrated Investment Consultants LLC acquired a new stake in shares of Navios Maritime Partners during the 3rd quarter worth about $4,208,000. Finally, Walleye Capital LLC raised its holdings in Navios Maritime Partners by 4,002.4% in the 3rd quarter. Walleye Capital LLC now owns 35,512 shares of the shipping company’s stock valued at $2,224,000 after buying an additional 36,422 shares during the period. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.